On the subject of bounties designed to offset the cost of exportation by the merchant class, Adam Smith said this- “neither the bounty, it is evident, nor any other human institution, can have [the effect of raising production of whichever commodity is affected by such bounty]”.
Adam Smith’s Views on Tax Cuts
On the subject of bounties designed to offset the cost of exportation by the merchant class, Adam Smith said this- “neither the bounty, it is evident, nor any other human institution, can have [the effect of raising production of whichever commodity is affected by such bounty]”.